[caption id="" align="alignnone" width="310" caption="Free Loan Modification Guide for Maryland DC and Virginia "]
A Loan modification is a long-term solution that will help the borrower make their loan payments and stay in their home.
This can be accomplished by decreasing the interest rate, or if an adjustable rate, changing it to a fixed rate. A loan modification can also increase the period of time the borrower has to pay the loan back, or switching to a different type of loan all together.
A loan modification is beneficial to the borrower because it allows the individual or family to remain in their home and grants them loan terms that work better with their particular life style or situation. A loan modification in comparison to foreclosure, bankruptcy, or some of the other options allows the borrower to keep their credit score intact.
No one can do a better job speaking on your behalf during a loan modification than YOU! . .
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